Tourism Minister Chairs 121st UNWTO Executive Council Meeting in Barcelona

Discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies - SPA
Discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies - SPA
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Tourism Minister Chairs 121st UNWTO Executive Council Meeting in Barcelona

Discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies - SPA
Discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies - SPA

Saudi Minister of Tourism and Chairman of the Executive Council of the United Nations World Tourism Organization (UNWTO) Ahmed bin Aqeel Al-Khateeb chaired the 121st Executive Council meeting of the UNWTO, held in Barcelona, Spain, on June 10 and 11, with the participation of tourism ministers from around the world.
Al-Khateeb's chairmanship of the current session underscores the Kingdom's leading role and influence in the global tourism sector, following significant successes in recent times. In his speech during the opening session, the minister stated, "Presiding over the 121st Executive Council meeting of the United Nations World Tourism Organization was a historic moment for us, as it united world leaders to confront pressing challenges in tourism and to drive tangible progress in all aspects of the global tourism sector. This gathering confirmed our collective vision of the continued prosperity of the international tourism sector, stressing the need for innovative models to sustain the sector, create investment opportunities, and continue strategic partnerships."
According to SPA, the discussions focused on analyzing international tourism trends, implementing the general work program and regulatory reforms, discussing financial growth strategies for the international tourism sector, and the importance of investing in human resource development to maintain global competitiveness. With global travel destinations on the rise, the tourism sector is expected to contribute up to $16 trillion to the global GDP by 2034.
The re-election of the Kingdom to chair the UNWTO's Executive Council for the second consecutive year in 2024 is a clear indicator of its pivotal and growing role in creating a resilient and thriving global tourism sector.
On the sidelines of the event, Al-Khateeb hosted a roundtable meeting with senior executives in the private tourism sector in Spain. He showcased the attractive investment opportunities in the Kingdom under the Investment Enablers Program in the tourism sector and the Investment Enablers Initiative in the hospitality sector. He also highlighted the diversity of tourism destinations in the Kingdom and Saudi Arabia's plans to enhance air connectivity between Spain and Saudi Arabia, as well as Europe.
Participants in the roundtable included senior executives from leading global, European, and Spanish hotel chains, as well as operators of several tourism facilities in the Kingdom, alongside organizations looking to expand their presence in the Kingdom, amidst significant developments in the tourism sector under the Saudi Vision 2030. The roundtable discussions coincide with an increase in the number of Spanish visitors to Saudi Arabia in 2023, with the Kingdom receiving over 40,000 Spanish tourists, marking a 6% increase from 2022.
This growth is attributed to the Kingdom's launch of the visit e-visa, as part of its efforts to provide opportunities for tourists and visitors from 66 countries to explore the Kingdom's vast tourism destinations and potential. These steps are part of its endeavors to increase the number of inbound tourists to 70 million by 2030.



QatarEnergy Declares Force Majeure on LNG Contracts

QatarEnergy's liquefied natural gas (LNG) production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. (Reuters)
QatarEnergy's liquefied natural gas (LNG) production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. (Reuters)
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QatarEnergy Declares Force Majeure on LNG Contracts

QatarEnergy's liquefied natural gas (LNG) production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. (Reuters)
QatarEnergy's liquefied natural gas (LNG) production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar March 2, 2026. (Reuters)

QatarEnergy declared on Tuesday force ‌majeure ‌on some ‌of ⁠its affected long-term ⁠LNG ⁠supply contracts, ‌with ‌counterparties including ‌customers in ‌Italy, Belgium, ‌South Korea, and ⁠China.

It said it was ‌continuing ‌to assess ‌the ⁠full impact of ⁠these recent events on its operations.

It added that it was assessing the impact ⁠and repair ‌timeline ‌for damaged facilities.

Missile ‌attacks on QatarEnergy's Ras Laffan production ‌hub on March 18 and 19 ⁠⁠caused significant damage.


Saudi Arabia Says World Economic Forum Postpones Jeddah Meeting

A World Economic Forum (WEF) logo. AFP
A World Economic Forum (WEF) logo. AFP
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Saudi Arabia Says World Economic Forum Postpones Jeddah Meeting

A World Economic Forum (WEF) logo. AFP
A World Economic Forum (WEF) logo. AFP

The World Economic Forum ⁠has postponed its Global ⁠Collaboration and Growth Meeting, originally ⁠set for April 22–23 in Jeddah, following consultations with the Saudi Ministry of Economy and ⁠Planning, citing ⁠current regional developments.

Saudi Minister of Economy and Planning Faisal Alibrahim stressed in January the need for sustained dialogue to accelerate global growth, calling on participants to engage actively in the meeting.

The Ministry of Economy and Planning affirmed Tuesday that the Kingdom has made comprehensive preparations to host the meeting and remains fully equipped to convene it, reflecting its continued role as a global platform for dialogue and agenda setting.

Building on its proven track record of convening major international gatherings, including the World Economic Forum Special Meeting in Riyadh in 2024, the ministry said it looks forward to hosting the Global Collaboration and Growth Meeting at a date to be announced in due course.

The World Economic Forum said: “The Global Collaboration and Growth Meeting will serve as a leading platform for shaping constructive global dialogue. Following coordination between the World Economic Forum and the Ministry of Economy and Planning of Saudi Arabia, it has been agreed to reschedule the meeting to maximize its global impact.”
 


IMF: Conflict Casts Shadow on Morocco's Economic Growth

FILE PHOTO: An MSC container ship crosses the Strait of Gibraltar from the Atlantic Ocean to the Mediterranean Sea, near the northern tip of the port of Tangier, Morocco, January 8, 2026. REUTERS/Amr Abdallah Dalsh
FILE PHOTO: An MSC container ship crosses the Strait of Gibraltar from the Atlantic Ocean to the Mediterranean Sea, near the northern tip of the port of Tangier, Morocco, January 8, 2026. REUTERS/Amr Abdallah Dalsh
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IMF: Conflict Casts Shadow on Morocco's Economic Growth

FILE PHOTO: An MSC container ship crosses the Strait of Gibraltar from the Atlantic Ocean to the Mediterranean Sea, near the northern tip of the port of Tangier, Morocco, January 8, 2026. REUTERS/Amr Abdallah Dalsh
FILE PHOTO: An MSC container ship crosses the Strait of Gibraltar from the Atlantic Ocean to the Mediterranean Sea, near the northern tip of the port of Tangier, Morocco, January 8, 2026. REUTERS/Amr Abdallah Dalsh

The International Monetary Fund has warned that in the near term, growth in Morocco would be impacted by the ongoing conflict in the Middle East.

The Executive Board of the IMF concluded last week the 2026 Article IV consultation with Morocco and completed the Mid-Term Review under the Flexible Credit Line Arrangement (FCL), which was approved on April 2, 2025.

The Staff Report issued on Monday said that real GDP growth is projected at 4.4 percent for 2026, 4.5 percent for 2027, and 4 percent over the medium term, assuming normalized agriculture production and continued infrastructure investment with greater private sector participation.

Real GDP growth in 2025 accelerated to an estimated 4.9 percent, supported by a rebound in agricultural output and a surge in large-scale infrastructure projects, the IMF said.

Nonetheless, high unemployment remains a significant challenge. Average inflation remained low at 0.8 percent, allowing Bank Al-Maghrib to maintain a neutral policy stance after earlier rate cuts.

The IMF lauded strong revenue performance that facilitated a smaller than anticipated overall fiscal deficit at 3.5 percent of GDP.

The overall fiscal deficits for 2026 and the medium term are consistent with a gradual reduction in debt to GDP to 60.5 percent by 2031.

The current account widened to 2.1 percent of GDP as imports rose with investment, partly offset by buoyant tourism.

“Sustainable job creation remains a pressing priority, and calls for a more dynamic private sector, leveling the playing field between public and private entities, and further reforms in the labor market,” the IMF said.

“Morocco continues to meet the qualification criteria for the Flexible Credit Line arrangement. Morocco has a sustained track record of implementing very strong macroeconomic policies and remains committed to maintaining such policies in the future, and continues to have very strong economic fundamentals and institutional policy frameworks. The authorities intend to continue treating the FCL arrangement as precautionary and to gradually exit it, depending on the evolution of external risks,” said IMF Deputy Managing Director and Chair Kenji Okamura.